ECONOMIC DEVELOPMENT BOARD APPROVES AWARDS TO SUPPORT THE CREATION OF UP TO 447 JOBS
(DES MOINES) The Iowa Economic Development Board approved awards today (Thursday) for projects that will create up to 447 jobs in Iowa. The board approved incentives for planned or proposed projects in Shelby, Council Bluffs, Davenport, Mason City, Dyersville, Grundy Center, Cedar Rapids, and Chariton.
The board approved Enterprise Zone tax incentives to Menard, Inc. to expand a warehouse at its distribution center in Shelby that will allow for a further expansion of its product lines. The company also considered out-of-state locations for this project. The project represents an estimated $10.9 million capital investment and is expected to create 28 new jobs at the facility.
The board approved $520,000 in direct financial assistance from the GIVFAP and tax incentives to meat processor Plumrose USA to build a proposed manufacturing facility in Council Bluffs. If the project proceeds, it would represent a $57.8 million capital investment and create 65 new jobs supported by state incentives.
And, the board awarded $800,000 in direct financial assistance from the GIVFAP value-added component and Enterprise Zone tax incentives to Tyson Prepared Foods, Inc. for a proposed renovation of its Council Bluffs facility. The project involves 53 jobs that meet enterprise zone requirements and would be supported by state incentives. The proposal includes an addition of roughly 60,000 square feet and renovating the cooked meats facility for a total capital investment of $48 million.